John Maynard Keynes and his followers argued that
A) the classical model does a good job of explaining the economy's operation in both the short run and long run
B) the short run is unimportant so economists should focus their attention on the long run
C) the economy should be allowed to function with minimal government interference
D) the economy operates the same way in both the short run and long run
E) while the classical model might explain economic performance in the long run,the long run could take a long time to reach

Question

Quizplus · Accepted Answer

John Maynard Keynes and his followers believed that while the classical model might explain economic performance in the long run, the long run could take a long time to reach. They argued that in the short run, the economy could be affected by a variety of factors and that government intervention could be necessary to stabilize the economy.

John Maynard Keynes and His Followers Argued That